The idea was to kick Russia out of war during 1941, with the capture of Russian ressources, germany could have turned on england in 1942/1943 and this time properly invade and capture the British island. It was a game of domino. What lost the germans was hat they had to be on multiple fronts at once... which their industry could not support while they were able to be victorious against anyone if limited to that front.
The main idea is more or less correct, just one question what do you mean by German "multiple fronts" in 1941,42,43?